Mastering Operational Risk, by Tony Blunden and John Thirlwell (published by Financial Times Prentice Hall) is a practical guide to understanding operational risk and how to manage it. The global financial crisis, the Gulf of Mexico oil well disaster and the Icelandic volcano, operational risk goes far beyond operations and process risks to cover all aspects of business risk – human failure, strategic and reputational risks, as well as natural and man made disasters. Mastering Operational Risk includes:
- The business case for operational risk
- Risk and control assessment
- How to use operational risk indicators
- Reporting operational risk
- Modelling and stress-testing operational risk
- Business continuity and insurance
- Managing people risk
- Containing reputational damage